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Reinsurance (Tables) | 12 Months Ended
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Dec. 31, 2024
Reinsurance [Abstract] |
Schedule Of Reinsurance Activity | A summary of reinsurance activity is as follows:
(In millions) | For the Years Ended December 31,
| 2024 |  | 2023 |  | 2022
Net assumed written premiums | $ | 104.4 |  |  | $ | 92.8 |  |  | $ | 72.5 |
Net premiums earned | 96.1 |  |  | 79.6 |  |  | 62.7 |
Provision for claims | 73.5 |  |  | 70.7 |  |  | 46.4 |
Amortization of capitalized acquisition costs | 2.4 |  |  | 1.9 |  |  | 1.5 |
Schedule Of Trust Assets And Reinsurance Liabilities | The trust assets and related reinsurance liabilities are as follows:
(In millions) |  |  | As of December 31,
| Balance Sheet location |  | 2024 |  | 2023
Trust assets | Restricted cash and cash equivalents |  | $ | 0.3 |  |  | $ | 1.4 |
Trust assets | Restricted securities available for sale |  | 106.4 |  |  | 93.2 |
Unearned premium | Accounts payable and accrued liabilities |  | 75.9 |  |  | 67.6 |
Claims reserve (1) | Accounts payable and accrued liabilities |  | 6.0 |  |  | 5.6 |
(1) The claims reserve represents our liability for incurred-but-not-reported claims and is estimated based on historical claims experience.
Cumulative Incurred Claims | The following tables present information about incurred and paid claims development for the five-year period ended December 31, 2024:
(Dollars in millions) |  |  |  |  |  |  |  |  |  |  |  |
|  | Cumulative Incurred Claims |  | As of December 31, 2024
Incident Year |  | As of December 31, |  | Claims Reserve |  | Cumulative Number of Reported Claims
| 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |
2020 |  | $ | 37.7 |  |  | $ | 37.6 |  |  | $ | 37.7 |  |  | $ | 37.7 |  |  | $ | 37.7 |  |  | $ | — |  |  | 28,214 |
2021 |  |  |  | 38.9 |  |  | 39.2 |  |  | 39.3 |  |  | 39.3 |  |  | — |  |  | 28,855 |
2022 |  |  |  |  |  | 46.0 |  |  | 47.7 |  |  | 47.8 |  |  | — |  |  | 30,492 |
2023 |  |  |  |  |  |  |  | 68.9 |  |  | 69.2 |  |  | — |  |  | 38,725 |
2024 |  |  |  |  |  |  |  |  |  | 73.1 |  |  | 6.0 |  |  | 38,798 |
Total |  |  |  |  |  |  |  |  |  | $ | 267.1 |  |  | $ | 6.0 |  |  | 165,084 |
Cumulative Paid Claims |
(In millions) |  | Cumulative Paid Claims
|  | As of December 31,
Incident Year |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024
2020 |  | $ | 35.4 |  |  | $ | 37.6 |  |  | $ | 37.7 |  |  | $ | 37.7 |  |  | $ | 37.7 |
2021 |  |  |  | 36.5 |  |  | 39.2 |  |  | 39.3 |  |  | 39.3 |
2022 |  |  |  |  |  | 42.9 |  |  | 47.7 |  |  | 47.8 |
2023 |  |  |  |  |  |  |  | 63.3 |  |  | 69.2 |
2024 |  |  |  |  |  |  |  |  |  | 67.1 |
Total |  | $ | 261.1 |
Percentage Payout Of Incurred Claims |
Average Annual Percentage Payout of Incurred Claims by Age
Claim Age (Years) |  | 1 |  | 2 |  | 3 |  | 4 |  | 5
Payout Percentage |  | 91.7 | % |  | 8.1 | % |  | 0.2 | % |  | — | % |  | — | %

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- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 + Details
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